Edgewater Invests in Wound Care Industry
Edgewater Private Equity Funds, LP today announced it has partnered with management in the buyout of Praxis Clinical Services, Inc. (“PRAXIS” or “Company”).
PRAXIS is a rapidly growing wound care service provider company focused on providing acute-care hospitals with the most appropriate and advanced resources and technologies to support optimal outcomes for patients with chronic non-healing wounds.
“Edgewater’s resources and strategic leadership are a perfect fit for PRAXIS,” according to President and CEO, Jack Rollins. “We look forward to working with our new partners and appreciate the strategic value of Bolder, which will allow us to achieve our long-term strategic growth plan.”
“We are very excited to have the opportunity to partner with the PRAXIS management team and believe that PRAXIS has the unique opportunity to enhance and further develop the wound care service provider industry with exciting new service offerings in large and growing markets,” said Greg Jones, Edgewater Partner.
About Praxis Clinical Services
Praxis Clinical Services provides management services for the development, implementation and operation of Comprehensive Wound Healing Centers. These centers are designed as outpatient departments in hospitals and are committed to the successful treatment and prevention of chronic, non-healing wounds.
Last year over 14,000 patients were treated in Praxis Clinical Services managed Comprehensive Wound Healing Centers through out the United States. This represents over 105,000 patient visits demonstrating our extensive experience in delivering state of the art wound care. Overall wound healing rates in Praxis Clinical Services centers exceed 90% for patients who have previously failed care in other healthcare settings. And, Praxis Comprehensive Wound Healing Centers have received a 99% Patient Satisfaction rating for 2004.
Today PRAXIS has 60 centers across the USA located in 28 states representing over 20,000 licensed hospital beds.